Englewood housing authority accepts up to $1.25 million grant commitment for Cherokee project

Englewood Housing Authority commissioners voted 5-0 on Oct. 7 to accept a state grant commitment of up to $1.25 million for land banking at Cherokee Place and authorize staff to proceed with the acquisition and grant closing. The final amount depends on the Colorado Housing and Finance Authority’s review of an appraisal, the authority’s October minutes and November meeting packet say.

The proposed project is a 50-apartment modular development at 3575–3595 S. Cherokee St. A February project summary describes housing aimed at health care workers and local artists, with a target of serving households earning 60% of area median income, the authority’s February resolution and project materials say.

A report in the November meeting packet says the grant commitment was executed Oct. 22 and that the Colorado Housing and Finance Authority was preparing grant documents after a closing-team kickoff call on Oct. 26. The authority was scheduled to consider a separate resolution on Nov. 4 that would authorize a grant agreement and declaration of restrictive covenants, both required for grant closing. The Oct. 7 vote authorized staff to proceed; it did not itself complete the land purchase or grant closing.